auto insurance telematics News

GEICO Gets Progressive, Joins Auto Insurers Offering Telematics

Berkshire Hathaway’s GEICO auto insurer has joined the ranks of carriers using telematics to track and improve driver behavior—after resisting for years. Berkshire Hathaway’s GEICO has been one of the few among the top 10 largest personal auto insurance carriers …

Porsche Auto Maker Offers Mileage-Based Auto Insurance in 2 States

Owners of Porsche autos now have their own Porsche auto insurance. The mileage- based coverage is available to all Porsche owners with vehicles 1981 and newer that are garaged in Illinois and Oregon. The company said it will be expanding …

Telematics CEO: 5 Trends to Watch in 2018 in Auto Insurance

Auto insurance is experiencing its most seismic shift since it began over 100 years ago. If 2017 shook up the industry with an increasing number of carriers adopting mobile telematics programs for UBI, 2018 will break the mold. Carriers will …

Octo Telematics Buys Usage-Based Insurance Assets of Willis Towers Watson

Octo Telematics, the the London-based provider of telematics for the auto insurance industry, announced it has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson, which was announced on Oct. 11, 2017. The financial details of …

Octo Telematics to Buy Usage-Based Insurance Assets of Willis Towers Watson; Partnership Announced

Octo Telematics, the London-based provider of telematics for the auto insurance industry, announced it will acquire the usage-based insurance (UBI) assets of Willis Towers Watson and will create a partnership with the broker to develop insurance products. These UBI assets …

Startup Auto Insurer Root Expands by 2 States, Pairs with Lyft on Rental Coverage

Startup telematics-based auto insurer Root is now offering rental coverage in partnership with ridesharing firm Lyft. For policyholders with short-term needs for alternate transportation after an incident, Root will now offer a choice between a rental car or a comparable …

Verisk Teams with Driveway Software on Smartphone Telematics for Autos

Property/casualty insurance data supplier Verisk Insurance Solutions has formed a strategic alliance with Silicon Valley’s Driveway Software to jointly develop a smartphone telematics product for automakers, insurers and drivers. The product will combine the Driveway smartphone telematics platform for data …

Online Seller CoverHound Adds Pay-per-Mile Insurer Metromile

Online insurance comparison shopping agency CoverHound has announced a partnership with pay-per-mile auto insurance company Metromile to provide more coverage options for customers of both companies. The partnership gives CoverHound, which now operates its personal lines platform in all 50 …

Usage-Based Auto Insurance, Slow at First, Picking Up Speed

Usage-based auto insurance will explode globally in the next seven years, a new industry analysis asserts. IHS Inc.’s IHS Automotive predicts that 142 million customers will sign up globally for the telematics-infused policies by 2023, up from nearly 12 million …

How Telematics Saves on Claims, Improves Customer Experience

Insurers that are not already using the data from their telematics programs for claims would be wise to do so early in their adoption of telematics as the task only becomes more difficult as more data is collected, according to …